Building materials supplier expects acquisitions to add £30m to revenue

Building materials supplier Wolseley has acquired three more companies for a total of £22m.

In a full year, these acquisitions are expected to add about £30m in additional revenue.

Wolseley acquired Morris Insulation, Acoustic and Thermal Insulation, Customised Insulation Manufacturers and Construction Insulation Distributors – known collectively as “The Insulation Companies” – from Rhodes Securities yesterday.

In the year ending August 2005, the Insulation Companies, based in Dublin, had a turnover of £10.5m and gross assets of £8.5m.

The news comes following a busy acquisition period for Wolseley. Since the beginning of the financial year on 1 August 2006, the company has bought six businesses in Europe and North America for a total of £49m. In total, the acquisitions are expected to add about £91m to group revenue.